Research in Motion's (RIM) terrible horrible year is getting worse. In their second quarter earnings report, the BlackBerry manufacturer reported that their profits had plummeted 47 percent; sales for their BlackBerrys devices fell 1.3 million under analysts' predictions; and they'd sold only 200,000 of their PlayBook tablets. That amounts to one PlayBook for every 23 iPads sold during the same period. (It's actually one per every 23.45, but we rounded down.) The figures fell well below analysts estimates and RIM share price sunk by 18 cents late in the day. In total, the company's stock has lost half its value so far this year.
Whether trying to be optimist or struggling with denial, RIM's chief executive Jim Balsillie tried to spin some movements in BlackBerry sales in a positive direction. "On the plus side, the company said it is seeing strong interest for new products running an updated version of its BlackBerry OS," Balsillie said. "We successfully launched a range of BlackBerry 7 smartphones around the world during the latter part of the second quarter, and we are seeing strong sell-through and customer interest for these new products."
Not to hammer the point home too much, but RIM sold 10.6 million BlackBerrys in Q2. Apple sold 20.3 million iPhones.
This article is from the archive of our partner The Wire.
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